Commodity markets in general turned more optimistic as China began easing its tough blockade orders in Shanghai…
Robusta chart London July 2022 session on May 30, 2022
At the end of the trading session alone at the beginning of the week, the price of Robusta coffee on ICE Europe – London adjusted up. Futures for delivery in July increased by 8 USD, to 2,105 USD/ton and for September delivery increased by 10 USD, to 2,106 USD/ton, slight increases. Trading volume very below average.
Meanwhile, the price of Arabica coffee on the ICE US floor – New York remained unchanged, because the market was closed for the Memorial Day holiday of the US. July spot futures remained at 229.45 cents/lb and September futures remained at 2219.70 cents/lb.
The price of green coffee beans in the Central Highlands provinces increased by 100-200 VND, to range from 41,000 to 41,500 VND/kg.
The reais rate continued to strengthen as commodity markets in general turned more optimistic as China began to relax tough blockade orders in Shanghai because of the spread of the covid epidemic. Expect the global goods supply chain to resume quickly.
The General Statistics Office of Vietnam estimates that coffee exports in May will reach about 2,500,000 bags, up 15.20% over the same period last year. As a result, cumulative coffee exports in the first eight months of the current crop year 2021/2022 will total 17,460,410 bags, an increase of 6.57% over the same period in the previous crop year.
At the same time, the General Statistics Office of Vietnam also estimated that the value of coffee export turnover in the first five months of the calendar year 2022 will total approximately US$2.00 billion, up 54% over the same period last year. This clearly reflects rising prices in the coffee futures market compared to the same period last year.
A report from Cecafé – Brazil said that the total export value of coffee of all kinds in the first 4 months of 2022 has reached R$66.78 billion, equivalent to US$14.05 billion, taking the fourth position in the ranking. Ranked 17th main crop of Brazil.
English (giacaphe.com)
